The Psychology of Investing in Bitcoin

[wallet4bitcoin]

By default, every investor targets an investment with the intention of profit making, not without considering the risks and management of it though. If this is the basics of investment then it is not out of place to say that every investor in Bitcoin expects to see the price of Bitcoin appreciate irrespective of the market sentiments.

[Smartvirus]

To say the least, there happens to be a psychological side to taking up Bitcoin investment. Most of which is associated with the price action at certain times. It tends to hit you differently but, you get more comfortable on a stand over time. This is the reason why is easy to find hodlers whom having been hodling through the early ages of the innovation still hodling till date while, doing a little expenses in between for some. You could easily find this set of persons having to advice that people should keep hodling no matter the market situation because, time and history have taught them the need to know on Bitcoin and it’s price action.

At the moment, it’s both tech and profit but, we hope to see this changed where we might have to spend Bitcoin as it ought to be, using it for day to day transaction in a p2p system of exchange.

[Fara Chan]

By default, every investor targets an investment with the intention of profit making, not without considering the risks and management of it though. If this is the basics of investment then it is not out of place to say that every investor in Bitcoin expects to see the price of Bitcoin appreciate irrespective of the market sentiments.

Targeting profits through investments is very natural for all investors as long as the investment is through a better asset like Bitcoin. And the risks that have been considered are also quite normal for those who like to invest because they are built in so anyone who invests must be willing to understand this very well. Apart from that, market sentiment can also give rise to more thoughts and hopes among investors because remembering that the goal of investors' investment is profit, not anything else.

[uneng]

And for a privacy supporter like me I just realized this recently that im more into Bitcoin because of its privacy and freedom, I don't like being controlled so I chose to be free with my finance with the help of Bitcoin.

Is this right? Because I see most people always talk about privacy, freedom and that's the main reason for them to choose bitcoin. But meanwhile, most people just talk about bitcoin's volatility and price on a daily basis. It doesn't stop there, the majority are using bitcoin as an investment and people are using centralized exchanges to buy and sell bitcoins. Most of us are here for profit, few of us are here for technology or privacy if bitcoin is not profitable. We don't need to deny our true purpose when choosing bitcoin.

I like to believe Bitcoin is profitable because it gives us the possibility of being over control of our own money when transacting it worldwide without frontiers and when storing it in our self-custody wallets, without intervention from regulators and governments. Bitcoin has become profitable due to its features and benefits to adopters, and not due to a temporary hype. It has come to stay and to improve our personal experiences when dealing with money in this digital world we live nowadays.

Profitability is a consequence of technology and privacy. So I think we should be thankful for every characteristics of Bitcoin, otherwise we wouldn't have access to the profit factor, after all.

[Bloodseekers]

By default, every investor targets an investment with the intention of profit making, not without considering the risks and management of it though. If this is the basics of investment then it is not out of place to say that every investor in Bitcoin expects to see the price of Bitcoin appreciate irrespective of the market sentiments.

Targeting profits through investments is very natural for all investors as long as the investment is through a better asset like Bitcoin. And the risks that have been considered are also quite normal for those who like to invest because they are built in so anyone who invests must be willing to understand this very well. Apart from that, market sentiment can also give rise to more thoughts and hopes among investors because remembering that the goal of investors' investment is profit, not anything else.

Every investor certainly has an investment target that they have determined before they invest and have also considered the risks of the investment they face when investing. With the experience they have had, it is very possible for them to remain calm with the various market conditions they face. look when they are carrying out investments and they will stick to the targets they have set before they reach these targets, so they will always be able to hold back until they can achieve profits from the investments they make.

[God bless u]

Now we have understood how much we can benefit from Bitcoin because what Bitcoin is is that it works with all the news and all with the trend. Wisely it just stays stable and sometimes it goes up and down which whitewashes out what is futures trading that's just something I've noticed. Also, what is the future of bitcoin means it can happen because nowadays most of the people are moving towards it and also benefiting from it. In the future, what you have can make you rich and there are many ways to have more money along with mining, people also know how to invest in.

People also buy it and store it with them in a secure wallet, and its future is in people's minds, that is, their concept is very different. And it is golden that in the coming time bitcoin will give them huge benefits as well as monthly earnings.

[AVE5]

Of course Bitcoin holds such an global influence due to the potentials of its profitablities otherwise there is already the traditional currencies which has been in existence before the intention of Bitcoin.
I bet that if not for the profitable potentials of Bitcoin it wouldn't be so highily rated to how much it is rated today if it was only relied on its primary aim of alternative source of payments in exchanges.
Although there are Bitcoin enthusiasms whom are interested in the technical aspects because it enlightens them with more proefficient of understanding the industry.
It is just an individual decision just as the investors whether short-term or long-term investors whom are concerned about the Bitcoins marketing values and those who are interested in predicting the price of Bitcoin which has not influence to price changes.

[fuguebtc]

And for a privacy supporter like me I just realized this recently that im more into Bitcoin because of its privacy and freedom, I don't like being controlled so I chose to be free with my finance with the help of Bitcoin.

Is this right? Because I see most people always talk about privacy, freedom and that's the main reason for them to choose bitcoin. But meanwhile, most people just talk about bitcoin's volatility and price on a daily basis. It doesn't stop there, the majority are using bitcoin as an investment and people are using centralized exchanges to buy and sell bitcoins. Most of us are here for profit, few of us are here for technology or privacy if bitcoin is not profitable. We don't need to deny our true purpose when choosing bitcoin.

I like to believe Bitcoin is profitable because it gives us the possibility of being over control of our own money when transacting it worldwide without frontiers and when storing it in our self-custody wallets, without intervention from regulators and governments. Bitcoin has become profitable due to its features and benefits to adopters, and not due to a temporary hype. It has come to stay and to improve our personal experiences when dealing with money in this digital world we live nowadays.

Profitability is a consequence of technology and privacy. So I think we should be thankful for every characteristics of Bitcoin, otherwise we wouldn't have access to the profit factor, after all.

That's right, bitcoin brings us many conveniences that no other currency has. But I mean, it would be a lie to say that we chose bitcoin because of the technology, because of the convenience it brings us, not because of the profit. Of course, we also need the privacy and anonymity that bitcoin offers, but profits are what we want more from bitcoin. And this life is very pragmatic and money is very important, everyone knows that and everyone needs it. So why don't we dare admit our main purpose when choosing bitcoin? That's not a shame. I am proud to be a bitcoin investor and to be able to make money from it, and that was my main purpose when I chose bitcoin .

[el kaka22]

There is a generational gap towards how people look at investment. Generation that are grandparents right now, lived at an age where their income was enough to live, and could afford investing in stable, low risk, long term things and do that for 40 years before they retire, and end up being rich in the end.

Generations with adult children now (people who are between 50 and 70) could invest long term like their parents, but not get as much in return, wasn't worse enough to change the system, but they didn't get as rich by doing the same thing, generation that may or may not be parents right now (between 35-50) invested either similarly and got so little, in fact got poorer, due to inflation, they have basically nothing to show for, or they invested into something like crypto and did better than their parents. It is those who are 20-35 range that are making the big stride, changing the whole investment world, but it will take a while before they are the majority.

[irsykes]

By default, every investor targets an investment with the intention of profit making, not without considering the risks and management of it though. If this is the basics of investment then it is not out of place to say that every investor in Bitcoin expects to see the price of Bitcoin appreciate irrespective of the market sentiments.

The main goal of investing in Bitcoin for me is to seek profits in different ways by saving long or short term. and for the rest, I choose short-term investments because prices will change one day due to various effects that have occurred. Long term is also good as strong support for the upcoming bull season becomes significant

[lombok]

Seeking profit while supporting Bitcoin technology may be inseparable things. Holding to get maximum profits in an investment while participating in using this technology is very tangential and this is certainly done by all Bitcoin supporters. I'm sure of it. And I'm sure there are several other reasons why to invest in Bitcoin.

[Solosanz]

Well there are many reasons:

1. People want to evade from paying tax, so they choose Bitcoin to makes people can't know where are your wealth.
2. People who did illegal thing or money laundering, so they can clean their money using few services.
3. People can use Bitcoin to scams other people globally to be become easier.

[Rufsilf]

Seeking profit while supporting Bitcoin technology may be inseparable things. Holding to get maximum profits in an investment while participating in using this technology is very tangential and this is certainly done by all Bitcoin supporters. I'm sure of it. And I'm sure there are several other reasons why to invest in Bitcoin.

Yes, I agree. Perhaps this is because, in my opinion, some investors are lured to bitcoin's technological innovation and may believe in its underlying block chain technology, viewing it as the financial of the future. Because of its price volatility, I think speculators are drawn to it with the intention of profiting from the short-term price fluctuations caused by their belief that they can foresee market trends. On the other hand, others may be driven by a fear of losing money, which makes them hang onto their bitcoin even during bear markets in the hopes that the value will rise. However, another point is that, given bitcoin's history of price increases, I believe investors are drawn to the possibility of making big returns.

[Eternad]

Ever felt that rush when Bitcoin hits a new high? Or the sinking feeling when it takes a nosedive? Let's talk about the rollercoaster ride that is Bitcoin investing.Are we in it for the tech, the profits, or just the thrill? Whether you're a HODLer for life or a day-trading.Let's dissect the highs, the lows, and everything in between. After all, the Bitcoin market isn't just about charts and numbers.

It’s obvious that we are all investing money on Bitcoin mainly because of profit. It’s hypocrisy if someone claim they are not here for profit yet they are putting money on it and keep checking the price to calculate their profit.

I’m here because of the profit opportunity since I knew that the value of Bitcoin will grow due to its unique and valuable technology that is the best alternative for fiat which our world currently using. I’m not here for the roller coaster ride and shit thrill since we are talking about money here. There’s a lot of place perfect for thrill seekers. Technology and Profit are my main factor I’m looking at on Bitcoin investment.

[qwertyup23]

Well Hello from the other side ~

Ever felt that rush when Bitcoin hits a new high? Or the sinking feeling when it takes a nosedive? Let's talk about the rollercoaster ride that is Bitcoin investing.Are we in it for the tech, the profits, or just the thrill? Whether you're a HODLer for life or a day-trading.Let's dissect the highs, the lows, and everything in between. After all, the Bitcoin market isn't just about charts and numbers.

What are your thoughts on this ~ Let's discuss

I do think that majority of the people who invest in BTC are driven by profit (me included).

By basing it on the price history of BTC when it first started, you would see that its price before was even below $1. When I even started joining this forum last 2017, the price of BTC was around $4,000 and currently its price sits comfortably at around $43,000~. When it comes to investing in BTC, the sky is definitely the limit. There are dozens of discussions predicting that in the next 10-20 years, the price of BTC would skyrocket as it will break new ATH prices each fork.

Bearing this in mind, I can confidently say that my purpose is primarily for profit and for investment. While this may be my perspective, I am also not discounting the possibilities of the practical usage of BTC in our economics and financials as the blockchain technology is an excellent example on how transactions are foolproof.

[kentrolla]

It varies for every individual and for me it's a mix of all and mostly it's never for thrill as profit matters for me thus I am not a day trader but a long term investor who has started DCA for quite a while and it has been really fruitful. Let's talk about emotions like the urge of buying more when Bitcoin is at peak and sometimes making that mistake especially like how people did in 2017 bull run it's natural and it takes time to learn and control our emotions especially when we are new to the market as well as when we don't have any strategy. But  compared to 2017 people are more mature and wouldn't be making blunders now except newbie.

[Adams0001]

By default, every investor targets an investment with the intention of profit making, not without considering the risks and management of it though. If this is the basics of investment then it is not out of place to say that every investor in Bitcoin expects to see the price of Bitcoin appreciate irrespective of the market sentiments.

Targeting profits through investments is very natural for all investors as long as the investment is through a better asset like Bitcoin. And the risks that have been considered are also quite normal for those who like to invest because they are built in so anyone who invests must be willing to understand this very well. Apart from that, market sentiment can also give rise to more thoughts and hopes among investors because remembering that the goal of investors' investment is profit, not anything else.

Anyone who invests does so for profit; no one invests to lose money. Anyone who invests in bitcoin does so because he knows he will profit if he invests and leaves it for a long time. I'm just thinking that when you invest in bitcoin and you don't borrow money from anyone to invest, you won't lose because if the price drops, you won't sell it because you invest to make a profit. It's only when you invest through a dept because when the dept time comes and the price is still dropping, You don't have a choice but to sell it because you don't have anywhere to pay the debt. That is why it is best to invest when you have a source of income because your mind will be calm and you won't have to worry about anything, including price decreases or increases all you have to do is calculate the amount the coin will reach before selling it.

[abel1337]

It varies for every individual and for me it's a mix of all and mostly it's never for thrill as profit matters for me thus I am not a day trader but a long term investor who has started DCA for quite a while and it has been really fruitful. Let's talk about emotions like the urge of buying more when Bitcoin is at peak and sometimes making that mistake especially like how people did in 2017 bull run it's natural and it takes time to learn and control our emotions especially when we are new to the market as well as when we don't have any strategy. But  compared to 2017 people are more mature and wouldn't be making blunders now except newbie.

Profit always matters as no one would put their money on an investment that wouldn't grow. People who are on the crypto space for a long time has more control and patience, in short they are more mature now compared before where every time that bitcoin dips hard, every one panics. Those who are in this industry for a long time knows what can happen in most of the situation just like other people on other industry, we have this skill set that most new people in crypto space doesn't have. We know that investing on bitcoin can generate us profit and for an old timer like me, I believe that the bitcoin I have will become fruitful that's why I invested in it. I care for profit just like everybody does.

[lombok]

Seeking profit while supporting Bitcoin technology may be inseparable things. Holding to get maximum profits in an investment while participating in using this technology is very tangential and this is certainly done by all Bitcoin supporters. I'm sure of it. And I'm sure there are several other reasons why to invest in Bitcoin.

Yes, I agree. Perhaps this is because, in my opinion, some investors are lured to bitcoin's technological innovation and may believe in its underlying block chain technology, viewing it as the financial of the future. Because of its price volatility, I think speculators are drawn to it with the intention of profiting from the short-term price fluctuations caused by their belief that they can foresee market trends. On the other hand, others may be driven by a fear of losing money, which makes them hang onto their bitcoin even during bear markets in the hopes that the value will rise. However, another point is that, given bitcoin's history of price increases, I believe investors are drawn to the possibility of making big returns.

The volatility and history of Bitcoin price movements, considering that the technology and investment is still relatively young and new and the recent entry of the Bitcoin ETF makes speculators and new investors confident that Bitcoin still has the opportunity to continue to grow considering that technological progress is very much in line with blockchain technology which is able to develop further. Again.

What still makes me very curious is that people in 2009, 2010 and 2011 really believed and understood that Bitcoin could grow big until now and still have Bitcoin and not sell everything, some even became experts. This is certainly a valuable lesson in how one assesses a technological development or project with a profit value of billions or even trillions of dollars.

How do these supporters and investors defend against saturation points and very volatile price movements of Bitcoin.

[KingsDen]

Well Hello from the other side ~

Ever felt that rush when Bitcoin hits a new high? Or the sinking feeling when it takes a nosedive? Let's talk about the rollercoaster ride that is Bitcoin investing.Are we in it for the tech, the profits, or just the thrill? Whether you're a HODLer for life or a day-trading.Let's dissect the highs, the lows, and everything in between. After all, the Bitcoin market isn't just about charts and numbers.

What are your thoughts on this ~ Let's discuss

• That is the way the cryptocurrency market is designed. Always moved by FUD and FOMO. Once bitcoin price hits a new ATH, you will begin to see social media posts like "bitcoin has made me a millionaire". People who doesn't really know how long they have invested will enter once at the peak of the price and the market will definitely crash on them   
• There are also long term Hodlers who will refuse to sell at ATH, and they will definitely end in regrets when the price will crash back to bear 
• Then there are day traders who only cares about price movements. Only price movement is enough for them to make money.

I don't think there is anything as Hodler for life; we don't buy bitcoins to hold them for the rest of our lives; they are not meant to be bought and held permanently in our wallets; they are not decorations; they are there to serve a purpose.

You got this so wrong. There are life holders. They don't care how high the bitcoin price goes and how low it will go. They just want to own bitcoin for life. They are already wealthy, make waiting if bitcoin can worth 1 million dollars in the future. Satoshi is a Hodler for life. Myself, there's a portion of my bitcoin I will not sell, no matter how high the price goes.